New world richest man emerges as Elon Musk loses out

After selling Tesla stocks to fund the $44 billion purchase of Twitter, Elon Musk, has lost his world’s richest person title.

According to Forbes, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, Bernard Arnault and his family have taken the ‘world richest’ title with a personal wealth of $185.4 billion.

Musk, who has held the top spot on the Forbes list for world’s richest since September 2021, now has a net worth of $185.3 billion.

Tesla’s shares fell about 4 percent in morning trading on Wednesday, December 7, 2022.

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